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Published Friday, July 11, 2008 | 5:30 p.m.
Updated Tuesday, Oct. 28, 2008 | 10:15 a.m.
After Thursday's news of double-digit declines in gambling revenue in Las Vegas, the latest tourism statistics from the Las Vegas Convention and Visitors Authority seem anticlimactic. Or, in other words, like more of the same.
Midweek and weekend room rates across town continue to fall, dropping 6 percent in May from the same month last year. The coming months will be more illuminating as lower room rates this year can be compared with rates during the typically slower summer months.
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Visitor volume was up less than one percent in May and is flat so far this year versus the same period last year, in line with what some Strip executives have predicted.
Airline traffic through McCarran International Airport was down 5 percent in May and is down 2 percent this year, an obvious result of higher fees and tightening consumer budgets.
The convention business has been more difficult to handicap. Some shows have reported significant declines in attendance while others are projecting increases or at least as many delegates as last year in spite of the economic slowdown. The visitors authority reports that convention attendance was up a percentage point in May, with overall attendance flat so far this year.
Darker clouds may be on the horizon.
Room nights occupied by convention-goers were down by 9 percent in May and have fallen 10 percent so far this year, a notable decline likely driven by attendees who are cutting their stays short, said Kris Tibbs, the visitors authority's senior research analyst.
We usually visit Vegas 5 to 6 times a year this year that number will be reduced to less than half. Reason: In the past we could go to Vegas via air for 2 people for what it now costs one person to go. No matter how low the room rates go it will not encourage trips to Vegas. Vegas attendance will continue to drop until the fuel costs are lowered. We as a nation are looking eyeball to eyeball at a depression. I was at the tail end of the last one.
I think that $4 a gallon was a tipping point for people. Before that, we just continued with life as usual. Now, I think people are looking to permanent life changes to prepare for the effects of fuel costs that will spread through the economy as the effects of fuel cost averaging through futures contracts wind down. Electric rates are going to go up a lot in the next year.
I think entertainment in vegas will continue to be a big draw, but people might come here fewer times but stay longer. Its just a great experience here, period. We have to encourage the whole idea of sin city, however, and get away from this family thing. You can go anywhere with a family of kids, but not many places you can have a really
GOOD time.
As residents, I think we should go out of our way to welcome visitors and make them feel comfortable so vegas is known as the friendly city.
Didn't the article say that visitation was up, but spending was down, oh wait:
"Visitor volume was up less than one percent in May and is flat so far this year versus the same period last year, in line with what some Strip executives have predicted."
So, air fares and gas prices are keeping people from coming? No
The real problem is spending, people are splurging on all the things they used to do when they came, they are doing less expensive things.
Bottom line is tourism isn't down, spending per tourist is and once people have more money that should change as well
Obama, Reid, All Democrats:
1) No to new drilling for oil and natural gas
2) No to coal
3) No to Nuclear
4) Yes to Higher gas prices
5) Yes to Las Vegas citizens losing their jobs due to higher gas prices
Keep up the good work Obama, Reid, Democrats!!!!!!
I love Las Vegas. It's my favorite place to visit. We are coming on August 5th and I can't wait. Whenever we visit everyone is great. But please, Harry Reid is destroying the state. jfinance is correct. His actions will lead to misery for the city. Do yourself a favor and get rid of him.
As usual the right wing facist Republicans have the oil situation completely wrong. Allowing for drilling will not bring any results for 7 years and the oil will be sold on the world market, not lowering the price at all in the U.S. Ending the illegal war Bush and the Republicans started, that the U.S. can't afford, is a start to getting our country on the right financial track.
Dear ljeanwitt: Again it is name calling when the facts are against you. The word facist demonstrates your way of thinking. Don't you know that the left wing of the Democratic party is closer to the facist idology than the right wing of the Republican party? This is because the left is against the individual (It Takes a Village etc....)
As to the statement above the drilling can work and get the oil in three years not seven. The current pipeline is only 55 miles away. Your logic is: I will not take my medicine for heart disease because it will not help me now. Even though it will save your life three to seven years from today. How about feasible alternatives that will not destroy the Las Vegas economy?
To the Attention of Mere: You are incorrect. Facism is associated with the extreme right, Hitler, the Nazi party... the Republicans. Anything big oil wants the Republicans are more than happy to oblige, with of course money being donated to the Republican party. You are too busy spewing out rhetoric from the Nazi News Network aka Fox News, to even be able to think for yourself. Just a couple of years ago all of you Republicans were touting how you loved driving your SUV's and trucks, all the while giving money to the Middle East for the oil that your gas guzzlers swallowed, at the same time criticizing the left for driving Hybrids like the Prius.